Former SEC Chair Says Bitcoin ETF Should be Approved

[royalfestus]

This individual should not be given any attention as he was opposed to Bitcoin trading when he was a boss. It is important to highlight the significance of the word 'should' in his comment. Furthermore, I suspect this comment may have been influenced by financial considerations towards the previous boss from Blackrock company due to the presented ETF.

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[serjent05]

I agree with @OP that once this ETF is approved, pump will definitely comes to Bitcoin market.  I think this will be one of the best bull runs and possibly can exceed our average expectation of the new all-time high of Bitcoin. One of the reasons that I stated on this is that once this ETF is approved, new money will possibly be injected to the Bitcoin market producing huge demand on the market.  Then a possible FOMO might occur that will push the price of Bitcoin even higher.  It is very possible because this kind of hype is not just a rumor but rather a fact if ever Bitcoin ETF is successfully approved.

[Cryptomultiplier]

I agree with @OP that once this ETF is approved, pump will definitely comes to Bitcoin market.  I think this will be one of the best bull runs and possibly can exceed our average expectation of the new all-time high of Bitcoin. One of the reasons that I stated on this is that once this ETF is approved, new money will possibly be injected to the Bitcoin market producing huge demand on the market.  Then a possible FOMO might occur that will push the price of Bitcoin even higher.  It is very possible because this kind of hype is not just a rumor but rather a fact if ever Bitcoin ETF is successfully approved.

Left for me, I don't think there's any news that's more important than the expected Halving to happen next year. Any bull run now might just be short lived and might be risky for new traders who are yet to understand the market volatilities.

Let the ETF be approved and let whatever flex BTC has left in its muscles be channeled toward making it the price more stable compared to the $30k it is currently at.

[TribalBob]

This individual should not be given any attention as he was opposed to Bitcoin trading when he was a boss. It is important to highlight the significance of the word 'should' in his comment. Furthermore, I suspect this comment may have been influenced by financial considerations towards the previous boss from Blackrock company due to the presented ETF.

right, I even think he has a specific goal by supporting bitcoin at this time which used to be completely against it but now turns to full support for bitcoin to be adopted

[hatshepsut93]

Opinions of former government officials don't matter. They don't decide anything. At best the current officials might take them into account, but most often they don't. I see this as a part of coordinated campaign by institutions like BlackRock to shape the public opinion that their ETF must be approved.

Is it good for Bitcoin? Well, it can be good for the price, but don't get too excited about Bitcoin ecosystem becoming more and more looking like that of the traditional assets.

[bbc.reporter]

Part of me just thinks Blackrock wouldn’t have applied for an ETF to be managed by them if they thought it would fail. I mean it’s so corrupt but it wouldn’t surprise me if they had assurances on this prior to filing. We’ll see what happens but surely if the Blackrock one gets approved then they have to approve others. It could be very bullish for the price.

I very much agree. Blackrock holds shares of companies that own much of the producers and services in America. They also might have enough political influence to get the approval. I am only saying they might have because nothing is 100%. However, these people behind Blackrock are a part of a group that rule and own much of the wealth in America.

In any case, Europe appears to have launched their spot ETF already hehe.



Europe Brings First Spot Bitcoin ETF to $4.8 Billion ETP Market

Jacobi Asset Management will launch the first Bitcoin exchange-traded fund (ETF) in Europe after a delay caused by the Terra Luna crash.

Jacobi has emphasized that theirs is the first European Bitcoin ETF that exposes investors to actual shares.

Source https://beincrypto.com/europe-beats-us-first-spot-bitcoin-etf/